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DAY ONE - Thursday 27 November 2008
8:30 Registration and coffee
9.00 ALTERNATIVE INVESTMENT - OVERVIEW
- Defining alternative investments
- Getting asset allocation right
o Improving efficiency risk return structures - Alternatives in the portfolio mix
- Assets uncorrelated with
- Differences in regulations (European countries differ in how much money can be invested in alternatives)
Alain Kerneis, Executive Director, GOLDMAN SACHS ASSET MANAGEMENT
10:30 Morning break
11.00 ALTERNATIVES IN EMERGING MARKETS (EM) INVESTING
- Alternatives in emerging markets (EM) investing
- Why alternatives in relation to EM?
- Specific challenges facing alternatives investment in EM and ways to address them
- Different ways of investing in EM alternatives asset class
- EM alternatives and the present crisis
Sergey Bubnov, Head of Alternative Investment Products, RENAISSANCE CAPITAL
12:30 Lunch
13.30 COMPARING ALTERNATIVES
- Correlation between traditional and alternative investment
- Finding uncorrelated investments
o Longevity?
o Forestry? - Discuss the correlation of alternatives to each other
o Cross correlation between various asset classes - Optimising your portfolio efficiency
- Risk return characteristics
Guy Wengraf, Hedgefund Analyst, ERSTE GROUP BANK AG
15.00 Afternoon break
15.30 NEW INVESTMENT PARADIGM: SEPARATION OF ALPHA AND BETA RETURNS
- Current situation: observations from the markets and academic research results, and a remedy
- Replacing a back-box with a transparent system: Systematic and non-systematic return generating processes
- Replicating beta returns and identifying alpha returns
- Mitigating tail-risk through look-back straddles
- Benefits from alpha-beta separation to investors
- Strategic and tactical allocation of core investments according to risk premia and return drivers
- Core-satellite approach: complementing the core with satellites
Jaakko Karki, CEO&CIO, Blue White Alternative Investments Ltd
17.00 End of day one
DAY TWO - Friday 28 November 2008
8:30 Registration and coffee
9.00 PRIVATE EQUITY IN THE CURRENT MARKET
- What is going on?
- Equity, debt and distressed debt
- Where is the money going?
- What are the interesting deals?
- How will things be different?
- Where is the smart money going?
Stephan Breban, Managing Director, CITY CAPITAL PARTNERS
10:30 Morning break
11.00 COMMODITY INVESTMENTS
- The index or long only investment
o diversification advantage
o inflation hedge - Active commodity investment
o Comparing different active approaches
o Knowledge helpful for other asset classes that depend on commodities
o Active vs. passive commodity investment - Principal drivers for energy, metals, and agriculture
- New developments and opportunities
Carl Robert, Portfolio Manager, CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
12:30 Lunch
13.30 SUPERIER MANAGER SELECTION IN PRIVATE EQUITY
- Key success factors in private equity manager selection
- Why is it more critical in private equity compared to other asset classes
- How to create access to best-in-class managers
- Key challenges in manager selection
- Case study: private equity manager analysis
Michael Flood, Managing Director, TD CAPITAL PRIVATE EQUITY INVESTORS
15:00 Afternoon break
15.30 VOLATILITY AS AN ALTERNATIVE ASSET CLASS
- What is volatility - implied vs. realised
- Why trade volatility?
- How to gain exposure to volatility
- What next? products
Mehrin Karim, Director of Global Equities & Derivatives Solutions, SOCIETE GENERALE CORPORATE & INVESTMENT BANKING
